You are using an outdated browser.

Please upgrade your browser for a better user experience.


BY Fintan Ng - October 23, 2018

News 0

Thai SEC studying plans for crypto-focused funds

Thai SEC says will consider carefully plans to allow crypto-focused funds
A+ A-

The Thai securities regulator is mulling plans allowing asset managers to launch funds focusing on digital assets.

The Bangkok Post says in an Oct 22 report that Thailand’s Securities and Exchange Commission (SEC) is considering the matter.

The SEC’s deputy secretary-general Tipsuda Thavaramara says no asset manager has so far come forward with a proposal as a thorough assessment is needed.

“We have to consider this carefully because it is a new type of investment asset,” she says, adding that there will be a negative impact on the mutual fund industry if something goes wrong.

The country’s Digital Asset Management Act came into force on July 16 regulating initial coin offerings (ICOs) and crypto transactions.

Since then, a number of companies have voiced their interest in either conducting ICOs or operating crypto exchanges.

Tipsuda was responding to Association of Thai Securities Companies chairman Pattera Dilokrungthirapop, who commented that a number of securities firms were interested in operating digital assets and related businesses, including ICO portals and exchanges, as well as becoming brokers and dealers in digital asset trade.

One asset manager interested in launching a crypto fund is the asset management arm of Siam Commercial Bank (SCB).

SCB disclosed in February that its asset management arm has been in discussions with the SEC over the launch of a crypto fund investing in bitcoin futures.





Submit your comments